Looking to make money on eBay from Day 1? Start an eBay Shop and Get Real Results.
How many people do you know start an eBay account and run a few auctions and generate mediocre sales year on year. These people typically sell second hand items or pick a poor product with absolutely no demand or sell items that make them £1 profit when all costs have been taken out. Its vital to pick a good product, use a better business model, save time and follow these 7 Key Strategies then you can acheive power seller in 60 to 90 days and make some serious money.
First please check out eBay's information on eBay Shops so you understand the benefits of having an eBay shop and you've made your choice between a Basic, Featured or Anchor Shop.
If you haven't made the decision yet to open an eBay shop, let me convince you.
They make you look more professional, they allow you to categorise your products, you'll get more exposure on and off of eBay, Google search engine loves eBay shops and will rank the main shop page for your keyword in its top search results especially if you use your main keyword/phrase as your user ID/Shop name (one of my new shops is called Parking-Sensor-Direct). eBay and Google will see this as selling Parking Sensors, which is my main keyword and rank me high as a result. There are more specifics to ranking in eBay's and Google's search engine that you can find in my other guide (links found at bottom of this page).
Also I'm not going to repeat all of the information that can be found in eBay's superb help guides as they are already done ready for you to go through as and when. And if you're serious please take a day out and go through all of eBay's guides and familiarise yourself with their policies. I recommend you read this eBay information as a start: eBay Fees | Improvements to Buy It Now and Shops | Become a Power Seller | eBay Business Centre | Reviews and Guides
7 KEY Strategies for Selling on eBay with an eBay Shop:
1. Selecting the Right Product to Sell
Most people fail here and invest lots of time, energy and money in a product that doesn't sell. If you just put 1 day in to this research you'll be ahead of 95% of the competition immediately. The fact is that most people are just too lazy to do the research. So Strategy 1 is, do your Competitor, Keyword, Market and Product research. Don't worry it's not as hard as it sounds. eBay provide a tool called Pulse and there is an awesome tool by a company called Terapeak that gives you eBay data by country.
At the time of writing I believe eBay have just started using a version of Terapeak replacing their market research tool. Take some time out to analyze this data it is absolute key to finding the right product. You can find out what the competition is, who sells the most products, what times people buy, average selling prices, etc, etc.
Select a good niche product and it really does help if you're passionate about it as you'll be writing about it quite a bit. When I say niche, I simply mean don't try to sell everything from electrical goods to clothing, stick to just electrical goods for example. This makes you an expert and builds trust and confidence.
Decide will you be stocking and shipping the goods or will you send direct from supplier (Drop Ship). When you find a supplier question them before you decide on a product as if they are unreliable, you'll find it tough on eBay. Let customers down and watch your feedback drop fast! And finally please don't list personal items on your shop account this is not professional.
2. Do the numbers make financial sense?
It's absolutely vital to run the numbers before deciding on a product or even an eBay business for that matter. Using excel create a simple spreadsheet and factor all of eBay's costs (monthly shop, listing fees, final value fees, listing upgrade fees), product costs, shipping costs, and obviously your business running costs, etc. Numbers don't lie so if it they are not good, please drop the product and start again with your research.
A favourite of mine is to keep costs as low as possible as this means more profits for you. So cut costs where you can. Negotiate cheaper product prices, get better shipping costs and find cheaper shipping materials. Also look at your business costs, internet access, telephone costs, etc, all these add up and bite into your bottom line.
3. Business Model and Efficiency
What is your business model like and is it efficient? Are you busy, busy, busy all day and wonder where the day went when you only had 5 sales to process? Take a good look at your systems and processes and think if ways to change them to save time. Are you shipping the products and are you Drop shipping direct to customer this can save time but also can give you more support enquiries if your drop shipper lets you down. If you ship yourself set up a system so it runs seamlessly between your eBay account and your packaging.
Use the eBay tools available to help with communicating with buyers and sending tracking numbers, etc. Selling Manager Pro is recommended for this along with the other superb sales data. List your products using Turbo Lister and synchronise this with your eBay account to get data on your best selling products, etc.
4. Selecting an eBay/Shop ID
Think about your image and brand and the perception that your eBay shop visitors will have of your shop, products and business. I recommend using a professional name with your main keyword and then brand it. For example: BlueWidgetsDirect | BlueWidgetsOnline | BlueWidgetsNow | BlueWidgetsStore
This way you get the best of both worlds. 1. People perceive you as a professional seller with high values, good integrity and you pass their trust and confidence tests. 2. You'll gain an advantage in the search engines especially Google. As already discussed it's all about matching your content with what searchers are looking for, so give Google the information it needs to serve your eBay site up in the top 10 results.
5. Become an Expert and an Authority in your niche
If people trust you and see you as an authority in your chosen niche they will buy from you, period! Build this trust and your reputation by communicating with your customer via good product descriptions, good information pages, buyers guides (like this one) and email newsletters. Send people to your eBay store from off eBay sites like blogs, social networking pages or even ecommerce stores. Gain eBay Power seller status as soon as possible by fulfilling eBay's Power seller criteria by selling in good numbers, amassing good feedback, and providing outstanding customer support pre-sale and post-sale.
6. Get Lots of Traffic and Convert this into Buyers
First, read eBay's criteria for ranking high in its search results. The criteria includes matching your title and description keywords to what the visitor is searching for. List items using the Buy It Now format with high quantities and when end relist within 7 days as your sales rank is maintained. Use info guides to generate traffic as these also rank high in Google results very fast.
Take advantage of eBay's templates and features for setting up your shop layout. Make it clean, simple and user friendly. Consider a bespoke product template that looks professional. Use good product descriptions that convert visitors into buyers. Images are also key as they give a strong visual impact from the thumbnail through to the main product images. Add videos to your product descriptions (hosting them on YouTube) to demonstrate your product. Videos hosted on YouTube are also search engine friendly and can generate masses of traffic to your eBay shop. And finally consider the cross sell tools available that display your other items on the page.
*If you are thinking of using the Auctiva cross sell tool, beware that once you sign up and sync both accounts, the cross sell tool will display on all current listings and the only way to remove it is by manually editing each page.
7. Using your eBay Data and increasing Conversions
Are you monitoring your traffic, sales and your costs? Every month at least go through the data on offer in Selling Manager Pro, Turbo Lister and Terapeak and see where you can improve all aspects of your business. Are you listing at the right times, is your listing duration too short or too long, are you getting good traffic from your product titles and other SEO (Search Engine Optimisation) efforts, is your feedback growing, are you fast approaching power seller status. And the all important question are you making money?
If you found this guide helpful please checkout out my other eBay shop guides. And kindly review this guide as helpful below. Thanks Jon